Federally Chartered Corporation:
Review of the Financial Statement Audit Report for the Army and Navy Union of the United States of America, Incorporated for Fiscal Years 1997 and 1998
AIMD-00-109R, Mar 3, 2000
Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Army and Navy Union of the United States of America, Incorporated, for the fiscal years ended June 30, 1997 and 1998, focusing on whether the audit report complied with the financial reporting requirements of the law.
GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented on a cash basis of accounting.